Sandhar Technologies (SANDHAR) Q4 24/25 earnings summary

Executive summary

• Achieved double-digit growth in consolidated and standalone revenue and profitability for FY25, with India business growing 13% and contributing 88.4% of consolidated revenue.

• Overseas operations faced a 7% decline in total income and posted annual losses of INR 21 crore, but improvement is expected in FY26.

• All joint ventures are PAT positive for Q4 and FY25, driven by cost control, localization, and synergy.

• Strategic acquisition of Sundaram Clayton's die-casting business for INR 163 crore, expected to add INR 400-425 crore revenue in FY26.

• Completed sale of 50% stake in Jinyoung Sandhar Mechatronics Private Limited and reversed impairment losses on Sandhar Whetron Electronics Private Limited.

Financial highlights

• Consolidated total income for FY25 rose 10% year-over-year to Rs. 3,901 Crs (₹388,450.22 lacs); EBITDA up 14% to Rs. 400 Crs (₹34,317.91 lacs); PAT up 28% to Rs. 142 Crs (₹14,164.24 lacs).

• Standalone total income increased 8% to Rs. 2,936 Crs (₹291,303.56 lacs); EBITDA up 14% to Rs. 300 Crs; PAT up 24% to Rs. 140 Crs (₹13,962.71 lacs).

• Overseas business posted a loss of INR 21.09 crore for FY25, with Q4 loss at INR 3.74 crore.

• Mexico plant contributed INR 120 crore in annual revenue.

• Sheet metal business grew 33% year-over-year.

Outlook and guidance

• Revenue growth of 14-15% expected for FY26, excluding Sundaram Clayton acquisition, which adds INR 400-425 crore.

• EBITDA margin targeted to improve by 30-40 basis points, aiming for 10.5-10.6% on a consolidated basis.

• Overseas business expected to approach break-even by end of FY26.

• CapEx planned at INR 180-200 crore for FY26, mainly for maintenance and minor upgrades.

• Board recommended a final dividend of ₹3.5 per share.